It’s been a busy week for Bilt. On Wednesday, they announced Amtrak as their latest travel transfer partner. Then, today, they revealed a transfer bonus to Amtrak as well as a Hilton transfer bonus that also comes with instant Hilton Honors status. Meanwhile, Bilt members now have just one quarter left to redeem their Bilt Cash before all but $100 rolls over to the new year. With that in mind, I thought it was worth looking at how I’ve been able to tap my Bilt Cash so far.
Before I get there, though, let me give you a refresher on what Bilt Cash even is. When the new line-up of Bilt cards was unveiled earlier this year, one of the key components was Bilt Cash. This currency was not only offered as a piece of the welcome bonuses for the card, but members could also earn 4% Bilt Cash on purchases they made using their card. Well, actually, not every cardholder earns Bilt Cash —but that’s all far too complicated to get into right now (you can check out my full Bilt credit cards review for the details). Also, as I alluded to, Bilt Cash expires at the end of each calendar year — although $100 can be rolled over.
So, how have I been using my Bilt Cash since getting my Bilt Blue Card in February? Well, my main redemption has been Lyft. Unfortunately, this option is capped at $10 a month. Moreover, credits you redeem expire at the end of the calendar month. In other words, you can’t hit the redeem button each month and save up Lyft credit. Instead, you’ll have to do what I do, which is redeem the credit when I’m about ready to call a ride.
I’ve now used this option at least three times, and I think it works pretty well. In my experience, the credit hits pretty much instantly, allowing me to use the discount right away. Something that is a little annoying, though, is that Lyft will show you a rate that already includes your credit. So, when you see a $40 ride, don’t think you’re really only paying $30.
Alas, the only other Bilt Cash redemption I’ve done to date is Walgreens. While this option is also capped at $10 a month, unlike Lyft, it does seem as though you can “stock up” here, as the funds are just delivered as gift cards. Funny enough, although I now have two Walgreens gift cards, I haven’t actually spent either yet. I suppose I should do that, eventually.
With this handful of redemptions, I currently have $98 in Bilt Cash. That’s good for me, since we are coming up on the end of the year. But should I pop back above $100, it’s nice to know that I have some easy options for getting back under that.
When Bilt Cash first launched, the big question everyone had (aside from “WTF is this?”) was whether it would actually offer any value. Well, more than six months in, I can declare that it does. Sure, its uses are still limited, and some of the restrictions are annoying, but I do think that the Lyft and Walgreens redemptions I’ve done have provided near dollar-for-dollar worth. So, if you’re sitting on some Bilt Cash you need to spend by the end of the year, I think these are two solid solutions.